Saturday , November 2 2024
Home / SNB & CHF / UBS tax evasion appeal verdict delayed in Paris

UBS tax evasion appeal verdict delayed in Paris

Summary:
UBS had appealed against both the original verdict and the size of the fine. Keystone / Peter Klaunzer Swiss bank UBS will have to wait until December 13 to see if its appeal against a French €4.5 billion (CHF4.9 billion) tax evasion penalty is successful. The long-awaited verdict was due on Monday, but the Paris court postponed its decision because a judge is ill. UBS was fined €3.7 billion and ordered to pay €800 million in damages during the original trial in 2019. Switzerland’s largest bank was found to have solicited French tax evaders over a number of years and laundered the proceeds of the tax dodgers. UBS is seeking to have the verdict overturned for lack of solid evidence. Even if the appeal court upholds the original verdict, it appears the financial

Topics:
Swissinfo.ch considers the following as important: , , , ,

This could be interesting, too:

Guillermo Alcala writes USD/CHF slides to test 0.8645 support with US inflation data on tap

Swissinfo writes Swiss central bank posts CHF62.5bn profit

Nachrichten Ticker - www.finanzen.ch writes Trump-Faktor und Marktbedingungen könnten für neuen Bitcoin-Rekord sorgen

Charles Hugh Smith writes Is Social Media Actually “Media,” Or Is It Something Else?

UBS tax evasion appeal verdict delayed in Paris

UBS had appealed against both the original verdict and the size of the fine. Keystone / Peter Klaunzer

Swiss bank UBS will have to wait until December 13 to see if its appeal against a French €4.5 billion (CHF4.9 billion) tax evasion penalty is successful.

The long-awaited verdict was due on Monday, but the Paris court postponed its decision because a judge is ill.

UBS was fined €3.7 billion and ordered to pay €800 million in damages during the original trial in 2019.

Switzerland’s largest bank was found to have solicited French tax evaders over a number of years and laundered the proceeds of the tax dodgers.

UBS is seeking to have the verdict overturned for lack of solid evidence. Even if the appeal court upholds the original verdict, it appears the financial penalty will be reduced.

French prosecutors have indicated that they would be happy with a €2 billion fine, while the French state has petitioned judges for €1 billion in damages.

In June the French court rejected a constitutional challenge to the original guilty verdict.


Tags: ,,

UBS tax evasion appeal verdict delayed in ParisDon’t miss posts anymore!
Subscribe to our newsletter!

Swissinfo.ch
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

Leave a Reply

Your email address will not be published. Required fields are marked *